Internal Audit departments are increasingly using the insights gained from data analytics to assist stakeholders with strategic and complex business decisions, as well as improve efficiency and mitigate risk.
But, how can you avoid the common pitfalls many organizations face when beginning an internal audit analytics program or trying to get more from your existing program? A key component is having an easy-to-use analytics tool that ALL of your internal auditors can use, not just those with programming or database administration skills.
After all, the ultimate goal is to fully integrate data analytics throughout the audit life cycle. In addition to implementing the right solution, there are several steps you can take to advance the use of data analytics within your internal audit team.